Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.

TSX:BNK - Post by User

Big Banc Split Corp

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Post by stocktaon Apr 05, 2008 1:19pm

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Post# 14942133

Sprott says BNK NAV is $6 per share...

I would argue that is low, since the oil field they are working in contains 2B barrels of heavy oil, then

2,000,000,000 bl x $30 /bl (netback) x 30% recovery (which they are working towards) = $42/share

Sprott is likely coming with conservative estimates such as

2,000,000,000 bl x $20 /bl (netback) x 6% recovery (current base) = $6/share

Sprott is too conservative or they are lowballing since it is better to underpromise and overdeliver as we all know.

Lots of good things to come in the next 12-18 months, may not be many pullbacks on this one judging by the trading the last few weeks, might have to bite the bullet and buy before this thing rockets north. We shall see.

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